TD Private Client Wealth LLC Trims Stock Position in Crown Castle Inc. (NYSE:CCI)

TD Private Client Wealth LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,417 shares of the real estate investment trust’s stock after selling 1,912 shares during the period. TD Private Client Wealth LLC’s holdings in Crown Castle were worth $1,762,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CCI. Wellington Management Group LLP raised its stake in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after buying an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Crown Castle by 433.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after buying an additional 3,225,460 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Crown Castle during the 4th quarter worth approximately $95,167,000. State Street Corp raised its stake in shares of Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after buying an additional 747,390 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Crown Castle by 9,471.0% during the 4th quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock worth $748,000 after buying an additional 739,779 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $106.61 on Friday. The business’s fifty day moving average price is $92.77 and its two-hundred day moving average price is $101.13. The stock has a market cap of $46.42 billion, a PE ratio of 37.81 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and dropped their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $85.00 to $105.00 in a research note on Monday, March 17th. Bank of America assumed coverage on Crown Castle in a research note on Thursday. They issued a “neutral” rating and a $110.00 price objective for the company. Finally, UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research note on Friday, March 14th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.